Ann: Abra initial production guidance, page-66

That figure of 7.6% is a new financial driven grade / number. It's never been released before imo (I could be wrong but I've never seen it before). Everything goes into it...dilution, grade, fuel costs, silver price etc etc. What he's probably alluding to is basically the grade dropped in the 2021 resource report so hence the new financial driven grade number should as well and not be unexpected. This is only partially correct as there are many factors driving that figure of 7.6%. Also the metal content between the 2018 and 2019 models was not that different. At the end of the day the new mine plan has 17% less metal in it (266,000 tonnes) over the LOM which is significant and will drag the NPV down significantly. They are leaving tonnes out of the mine plan most likely because they don't meet the required rate of return at the higher cost per tonne / lower grade scenario. Doesn't mean they cant pick them up in the future though if say the lead price improves or costs drop etc.